The court found that just because a 2005 jury acquitted each of the three of some criminal charges, it could not be concluded that the men could not be found guilty of some of the other charges against them.

"The 5th Circuit ruled against us in our effort to narrow the scope or to eliminate a retrial," said Hirko's lawyer, Per Ramfjord of Portland, Ore. "It is too early to assess what steps we'll take next."

Ramfjord said rather than move straight to a decision from the Justice Department on whether the case will be retried, the defendants could still ask the appellate court to rehear the case with all the judges, rather than the three-judge panel that heard this case. And, he said, they could ask the Supreme Court to consider their arguments.

Tony Canales, Yeager's lawyer, said he will seek a rehearing and will, if necessary, take the case to the Supreme Court.

A Justice Department spokesman could not be reached late Monday.

The defendants — Hirko, former co-CEO of the broadband division; Shelby, senior vice president of engineering and operations; and Yeager, senior vice president of business development — have been in legal limbo since 2005.

The government contended that all three conspired to overstate capabilities of Enron's broadband network and software to generate enthusiasm on Wall Street and enrich themselves by selling shares inflated by the hype. The defendants each testified that the network and software worked, but was being implemented in phases. The broadband division never made a profit and went bankrupt along with Enron in December 2001.

Originally, all three were charged with conspiracy, wire fraud, securities fraud, insider trading and money laundering. Jurors acquitted Yeager of the conspiracy and fraud counts, but was hung on more than 100 insider trading and money laundering counts. Hirko was acquitted of money laundering and insider trading, while Shelby was acquitted of some insider trading charges.

The government later re- dicted all three on fewer charges. Yeager faces 13 counts of insider trading and money laundering, while Hirko and Shelby — in a separate case — were re-indicted on the conspiracy, fraud and insider trading counts.